Legacy Housing (NASDAQ:LEGH) Issues Earnings Results

Legacy Housing (NASDAQ:LEGH) posted its quarterly earnings results on Tuesday. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01), reports. The company had revenue of $44.27 million for the quarter, compared to analyst estimates of $51.14 million. Legacy Housing had a net margin of 33.11% and a return on equity of 12.04%.

Legacy Housing Price Performance

LEGH stock opened at $26.24 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.41 and a current ratio of 4.39. The firm has a market cap of $633.91 million, a P/E ratio of 12.09 and a beta of 1.09. Legacy Housing has a 1 year low of $19.42 and a 1 year high of $29.31. The stock’s 50 day moving average price is $26.68 and its 200 day moving average price is $25.14.

Insider Buying and Selling

In other Legacy Housing news, Chairman Curtis Drew Hodgson sold 17,300 shares of Legacy Housing stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $26.08, for a total value of $451,184.00. Following the completion of the sale, the chairman now directly owns 697,873 shares of the company’s stock, valued at approximately $18,200,527.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders sold 167,795 shares of company stock worth $4,477,603. 30.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Legacy Housing

Large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets grew its holdings in shares of Legacy Housing by 79.0% during the 1st quarter. BNP Paribas Financial Markets now owns 5,708 shares of the company’s stock worth $123,000 after purchasing an additional 2,520 shares during the period. Empowered Funds LLC raised its stake in Legacy Housing by 5.0% during the first quarter. Empowered Funds LLC now owns 36,902 shares of the company’s stock worth $794,000 after acquiring an additional 1,767 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Legacy Housing by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 441,383 shares of the company’s stock worth $9,499,000 after purchasing an additional 21,995 shares during the last quarter. EntryPoint Capital LLC acquired a new position in shares of Legacy Housing during the first quarter valued at $45,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Legacy Housing in the first quarter valued at approximately $245,000. Hedge funds and other institutional investors own 89.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wedbush reaffirmed an “outperform” rating and set a $29.00 price objective on shares of Legacy Housing in a report on Friday, August 9th. B. Riley reaffirmed a “neutral” rating and set a $29.00 price target (up previously from $25.00) on shares of Legacy Housing in a research note on Monday, August 12th.

Legacy Housing Company Profile

Legacy Housing Corporation engages in the building, sale, and financing of manufactured homes and tiny houses primarily in the southern United States. It manufactures and provides for the transport of mobile homes, including 1 to 5 bedrooms with 1 to 3 1/2 bathrooms; and provides wholesale financing to dealers and mobile home parks, as well as retail financing to consumers.